Downturn draws all earnings levels to Utah shops, amid more corporate ownership.
This might be an article that is archived had been posted on sltrib last year, and information when you look at the article can be outdated. It really is supplied limited to individual research purposes and may even never be reprinted.
Cash-strapped customers hocking personal things at pawn stores or getting loans at payday financing shops are making for a booming business.
Even though the most of pawnshops are separately owned, big corporations are making inroads. And whether which is a positive thing for Utah shops and their clients is determined by who’s doing the chatting.
With regards to their component, representatives of Ezcorp are not saying much publicly about its expanding impact across the Wasatch Front and southern Utah, that also includes 17 pay day loan shops. Ezcorp, situated in Austin, Texas, operates more than 500 pawn shops into the U.S. and Mexico and 500 cash advance stores into the U.S. and Canada.
Eric Fosse, president associated with Ezcorp’s us Operations, failed to get back calls for remark, and a few business professionals and shop supervisors referred inquiries to other people when you look at the company. A representative did respond but described news releases in reply to concerns.
In a declaration announcing the purchase for the Utah stores, Fosse stated it “gives us an instantaneous and pawn that is significant into the Salt Lake City area. Salt Lake City is a tremendously area that is attractive us, and these pawn shops complement our current EZ Loan Services shops in Utah.”
He included that the acquisition, together with the purchase of 15 Mister Money pawn shops in Iowa, Wisconsin and Illinois for $18.5 million, “enables us to leverage our current structure that is operational while providing us an excellent base for continued expansion.”